Eskom turns 95, says more than 100 000 new households on grid
South African State power utility Eskom said on Thursday it was celebrating its 95 year anniversary with 100 380 households which had been connected to the national grid over the past six months.
Eskom, which provides about 95% of South Africa's electricity, but has been dogged by cash constraints, said it hoped to achieve universal access to electricity by 2025, with the National Treasury allocating R17.3-billion to the utility and municipalities to electrify a further 640 000 households over the next three years.
"Turning 95 years is great milestone for our organisation and a self motivation as we manoeuvre through the liquidity and governance challenges that we are currently grappling with as the organisation," interim group chief executive Phakamani Hadebe said.
"Together with the board, we are busy formulating a strategic framework that will ensure that this institution survives another 100 years."
Official data shows that more than five-million households within Eskom’s licensed areas of supply have been electrified since 1990. Over 90% of South Africans have access to electricity, with the majority of new customers now being electrified in more remote and deep rural areas.
Several Eskom executives have been implicated in allegations of corruption and mismanagement, and the Treasury said in its 2018 budget review last week the company's financial position was now a major risk to the economy and public finances.
S&P Global said it was cutting its rating on Eskom further into junk, with a negative outlook on Wednesday, saying it anticipated pronounced pressure on Eskom’s fiscal 2019 financing plans.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOMDeveloped to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
